THE LEGAL REGIME FOR GAS BUYING

Abstract

This work examined the legal framework governing gas buying in Nigeria, focusing on the key laws, policies, and contractual arrangements that shape transactions in the country's gas sector. As Nigeria is one of the largest producers of natural gas in the world, the effective regulation of gas transactions is crucial for both domestic energy supply and international trade. Using the doctrinal research methodology, this work explored the relevant provisions of the Petroleum Industry Act (PIA) 2021 and the Gas Pricing and Domestic Demand Regulation, 2023. It also evaluated critical issues such as pricing mechanisms, tax incentives, the funding of gas related projects and the role of government regulation. Special attention was also given to the challenges that impede gas buying in Nigeria. The work further highlighted the impact of recent reforms like the PIA Act, including efforts to promote domestic gas utilization, and offers recommendations for improving the legal and regulatory regime to foster investment and stability in Nigeria's gas industry.